Conference focuses on financing energy efficiency in Spain and Portugal
Increasing financing for the renovation of buildings to make them more energy efficient was a key topic at a conference on financing energy efficiency in Spain and Portugal that took place on 15 June 2017 in Madrid. The event focused on how to unlock private financing for energy efficiency in these two countries. Key topics of discussion were increasing financing for the energy efficient renovation of buildings, organising discussions on sustainable energy investments and, more generally, developing and structuring energy efficiency investment programmes. The participants came from the European institutions, Spanish and Portuguese authorities, financial institutions and businesses.
The conference was organised by the Executive Agency for Small and Medium-sized Enterprises (EASME) on behalf of the European Commission, in partnership with the Instituto de Crédito Oficial, the UN Environment Finance Initiative and the Instituto para la Diversificación y ahorro de la Energía. It is organised as part of the Sustainable Energy Investment Forums contract, funded by the Horizon 2020 programme of the European Union. This contract aims to foster more investment in sustainable energy from private sources, while using public financing in the most effective way. Public sources include the European Structural and Investment Funds (ESIF), which is implemented through five different funds, in particular the European Regional Development Fund (ERDF). Over 2014-2020, the ERDF is providing investment in energy efficiency in public and residential buildings and in enterprises, as well as in renewable energy and smart energy infrastructure, in both Spain (close to €2 billion) and Portugal (€1.1 billion).
Discussions at the conference also focused on other EU financing instruments, such as the Private Finance for Energy Efficiency (PF4EE). In Spain, the PF4EE risk sharing facility has enabled a €50 million European Investment Bank loan, which will finance energy efficiency investments in hotels through Banco Santander. Moreover, the conference covered initiatives to finance the energy efficient renovation of buildings in the Iberian Peninsula, such as the PAREER-CRECE programme, and energy efficiency in industry.